Published on 5/23/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.02 million contingent interest autocallables tied to indexes
By Marisa Wong
Morgantown, W.Va., May 23 – JPMorgan Chase Financial Co. LLC priced $1.02 million of autocallable contingent interest notes due May 24, 2022 linked to the least performing of the S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 4.7% if each index closes at or above its coupon barrier, 60% of its initial level, on the review date for that month.
After one year, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date prior to maturity.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,015,000
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| Maturity: | May 24, 2022
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| Coupon: | 4.7% annualized, payable monthly if each underlying index closes at or above coupon barrier on monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
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| Call: | After one year, at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date prior to maturity
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| Initial index levels: | 2,381.73 for S&P, 1,367.330 for Russell and 20,804.84 for Dow
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| Coupon barriers: | 1,429.038 for S&P, 820.398 for Russell and 12,482.904 for Dow; 60% of initial levels
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| Trigger levels: | 1,429.038 for S&P, 820.398 for Russell and 12,482.904 for Dow; 60% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.375%
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| Cusip: | 46647MCR2
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